One of our major concerns and goals is helping people to manage their money. It’s a key element to their financial health and well-being and with Christmas fast approaching it’s vitally important that you keep a close eye on your spending.
Christmas is one of the most expensive times of year and it’s all too easy to enter into the festive spirit and find yourself overspending to the extent that you don’t leave enough in your purse or wallet for the day to day essentials. So as an early Christmas present we’d like to give you al little advice on how to survive the festive season and come through it with money to spare.
Plan your spending in advance
The people who tend to have more money (and this applies to those we consider to be rich too) are those who plan their spending in advance. Even those that we perceive as being well-off or rich are only well-off or rich because they plan their spending – and not just at Christmas, but all year round. It’s not only how they become well-off in the first place, but it’s how they remain well-off too.
For those of us who are more financially challenged, planning our spending is important too, and with the right kind of planning, who knows? – You could be starting off on the journey to one day becoming well-off yourself.
Setting your budget
The place to start your spending planning is to set out your budget. To do this effectively you basically need to jot down what your income is, and what your regular outgoings are too. Include everything not forgetting any standing orders or regular payments that you are committed to. Whatever you’re left over with is your disposable income; disposable in as much as you can dispose of it as you see fit.
In an ideal world you should limit your spending for the Christmas period within this disposable income. That way you can be sure that you’ll have sufficient money to buy whatever it is you are going to buy and still be able to afford to live through and after the festive season.
Whatever the amount of your disposable income, you can then set about planning how much you’re going to spend and on what. The internet is a great tool for planning your spending. You can see how much things cost; compare costs, and find some great bargains too. The internet is not only great for window shopping but a great way of actually shopping too.
For a few more tips with regard to surviving the festive season financially intact, take a quick peek at the “How to Survive The Festive Season Financially Unscathed” article on the SA Breaking-News website.
To borrow or not to borrow?
For more advice on deciding when (and when not) to borrow we recommend checking out this “Financial guide to surviving the festive season.” The key to responsible borrowing is in understanding whether or not you can afford to pay back the repayments (including any interest of course) without impoverishing yourself. If you can that’s all well and good, but if you can’t, then it’s something that you need to avoid doing.
Most of us have been financially challenged as some point in our lives, so we all understand. The bottom line to making it through Christmas is to have the Christmas that you can afford.